Samsung Electronics' Q4 Operating Profit Drops 34.57% Despite Chip Recovery
Samsung Electronics reported a 34.57% drop in operating profit in the fourth quarter, in line with its earlier guidance, with revenue at 67.78 trillion Korean won. The decline is attributed to the impact of inflationary pressures and excess chip inventories. However, the company expects a moderate improvement in earnings in the first half of 2024, with a more significant improvement in the second half, as it anticipates a continued recovery in memory chip prices and demand for IT products.